This Website Will Help You Figure Out If You Can Make Money as an Instagram Influencer
It's tempting to give up your day job to produce sponsored content on your
Business Insider reports that Inkifi.com allows you to submit your Instagram handle and get an exact number for what your post might be worth. Writer Rosie Fitzmaurice fed hers into the website, and with only around 400 followers, a sponsored post would earn her about $2.35. Not very much, but the amount of money you can make grows exponentially pretty fast.
Inkifi.com's metrics are derived from a report called "
The State of Influencer Marketing 2017
," which estimated that every follower is worth about $.01. But Lisa Targett, the general manager of a UK company called Tribe that connects brands to "
"Now the metric brands should be looking at is the cost per engagement - the cost of the post divided by the number of comments, likes, and shares - because these days anyone can buy reach," Targett said.
While there are certainly people like Kim Kardashian, with millions and millions of followers, making a lot of money per post, brands are also looking for people with between 3,000 and 50,000 followers. Smaller influencers are more "potent," because the people engaging with you probably have a sense of intimacy, or the thing you're focusing on is more specific-vegan fitness, holistic dog care, plants. I personally follow a lot of people who post pictures of plants, and when they recommend I buy a certain kind of plant holder, I see it. For example, Hilton Carter who has around 50,000 followers, myself included:
Tribe also offered a rough estimate for what people can make that's less specific than Infiki.com, but gives you an idea of where you'd need to get to to to make your car payment:
3-10K - £50-£100
10-25K - £100-£180
25K-50K - £180-£250
50K-100K - £250-£350
100K+ - £350+
But beware: if you do start making money off sponsored posts, you have to label them. The Guardian reports that brands and influencers have been doing a huge trade, but Instagram personalities are starting to get in trouble for not hashtagging their images as #ad or #spon, which has been a rule from the UK's Advertising Standards Authority since 2014. In the US, the Federal Trade Commission has also been pushing influencers to explicitly label their paid content:
Letters from the FTC to celebrities reminding them of their obligations noted that many disclosures had not been sufficiently clear. "Many consumers will not understand a disclosure like '#sp,' 'Thanks [Brand]', or '#partner' to mean that the post is sponsored", it said.
This may mean that the tide is turning on how easy to is to get money in exchange for holding a cup of tea on camera. So get in there now.